Sina US Stock, December 5 — Saudi Aramco (Saudi Aramco) is seeking insurance against war and terrorist attacks. Previously, some of the company's oil facilities were attacked by drones in September, sources said.

They added that Saudi Aramco, the world's largest oil company, has been seeking insurance from a number of insurance companies, including Lloyd's in London and other insurance companies in the London market. The insurance options range from insurance against terrorist attacks to full coverage including war or civil war, while also covering the costs of business interruptions.

One of the sources said the company is insuring its facilities in Saudi Arabia's eastern province, the center of its oil sector, where the September attack occurred. Saudi Aramco said in a prospectus this month that the company is not insured against all risks, and its coverage may not protect it from acts of terrorism or war.

This IPO is probably the largest in the world, raising up to 25.6 billion US dollars. At the launch of the IPO, Saudi Aramco said it did not expect the September 14 attacks to have a substantial impact on its finances and operations.

A third source said that the initial damage caused by the terrorist attack was estimated at 2 billion riyals ($533 million).

Saudi Aramco insures most of its assets through a so-called exclusive self-insurance company, Stellar Insurance, headquartered in Bermuda.

Although one of the sources said that Saudi Aramco also covered “excess loss insurance” from an international insurance company for any property damage exceeding $200 million, this did not include war or terrorist attacks, nor loss of revenue due to business interruptions.